Alphabet Inc. $GOOGL Shares Sold by Chesapeake Wealth Management

Key Points

• Chesapeake Wealth Management cut its Alphabet stake by 6.9% in the first quarter, selling 1,687 shares and retaining 22,653 shares worth approximately $6.5 million. Alphabet remains about 2% of the firm’s portfolio.
• Alphabet reported quarterly revenue of $119.8 billion and adjusted earnings of $9.11 per share, exceeding analyst expectations. Wall Street maintains a consensus “Buy” rating with an average price target of $419.86.
• The company declared a quarterly dividend of $0.22 per share, while insiders sold a combined 600,547 shares worth approximately $16.3 million over the past three months.

Chesapeake Wealth Management trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,653 shares of the information services provider's stock after selling 1,687 shares during the period. Alphabet comprises approximately 2.0% of Chesapeake Wealth Management's investment portfolio, making the stock its 13th biggest position. Chesapeake Wealth Management's holdings in Alphabet were worth $6,514,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Lifetime Wealth Management P.C. bought a new stake in shares of Alphabet during the 4th quarter worth $32,000. EMC Capital Management acquired a new position in shares of Alphabet in the 4th quarter worth $33,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth $38,000. Bard Associates Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at $52,000. Finally, Kentucky Trust Co lifted its holdings in shares of Alphabet by 142.9% during the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock valued at $53,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Trading Down 1.3%

Shares of NASDAQ:GOOGL opened at $357.75 on Friday. The firm has a fifty day moving average of $356.20 and a two-hundred day moving average of $340.31. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $194.33 and a 12-month high of $408.61. The firm has a market capitalization of $4.38 trillion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.02 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. On average, equities analysts expect that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's dividend payout ratio is presently 4.42%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GOOGL shares. Guggenheim reissued a "buy" rating and issued a $450.00 price target (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. Susquehanna reiterated a "positive" rating and issued a $460.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Citigroup reissued an "outperform" rating on shares of Alphabet in a research report on Monday, May 4th. Wells Fargo & Company set a $411.00 price target on shares of Alphabet and gave the company an "overweight" rating in a report on Thursday, July 23rd. Finally, Sanford C. Bernstein restated a "market perform" rating and issued a $390.00 price target (up from $345.00) on shares of Alphabet in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $419.86.

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the business's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $19.46, for a total value of $3,832,277.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the business's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider directly owned 75,290 shares of the company's stock, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 600,547 shares of company stock valued at $16,255,540 in the last three months. Insiders own 11.61% of the company's stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is seeking up to $25 billion through a 10-part U.S. bond offering, with reports indicating orders could exceed $115 billion. The strong demand suggests investors and lenders remain confident in Alphabet’s credit profile, while the funds will support AI data centers, computing capacity and other corporate needs. Alphabet seeks up to $25 billion from its latest bond sale
• Positive Sentiment: AI demand continues to create growth opportunities for Google Cloud. AI lab Mirendil signed a multiyear agreement worth more than $100 million for Google Cloud computing capacity, reinforcing demand for Alphabet’s infrastructure and services. Mirendil signs Google Cloud deal
• Neutral Sentiment: Demis Hassabis is moving from day-to-day leadership of Google DeepMind to become Alphabet’s chief scientist and chair of DeepMind, with a focus on long-term research, artificial general intelligence and Isomorphic Labs. Management says the change is intended to improve coordination between research and commercialization. Demis Hassabis new role
• Negative Sentiment: Investors remain concerned that Hassabis’ reduced operating role, combined with the departure of longtime chief scientist Jeff Dean and other senior researchers, could weaken Alphabet’s ability to retain talent and compete in frontier AI. The leadership changes followed concerns about delays in Google’s next-generation Gemini products. Google AI leadership departures
• Negative Sentiment: The debt offering highlights the scale of Alphabet’s AI spending. Although borrowing can preserve cash for operations, it increases interest obligations and intensifies scrutiny over whether future AI revenue will justify the substantial capital investment. Alphabet bond offering and AI spending
• Negative Sentiment: Alphabet’s planned $15 billion India data-center project faces opposition over potential effects on water supplies and wildlife, creating possible permitting, reputational and construction risks. Google India data center environmental concerns

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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